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November 22, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > South Bend, Business Loans > 1st Source Bank South Bend Business Loans > Beauty Salons Loan | ||||
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South Bend, Indiana SBA Banks
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South Bend, Indiana Bank Gives SBA Loan to Beauty Salons CompanyA South Bend, Indiana small business loan can be yours. Learn how one firm got a $371,000 business loan from this Indiana bank. This loan to an entrepreneur is a good example of an SBA loan. 1st Source Bank made the loan and the SBA guaranteed a portion of the loan. Many other Indiana entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: BEAUTY SALONS SBA Loan Lender 1ST SOURCE BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812112 - Beauty Salons Loan Approval Date 8/25/2005 Loan Approval Gross Amount $371,000 Loan Approval from the SBA Of the total $371,000 loan amount, the SBA guaranteed $278,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 8 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans provide smart, affordable business financing for small businesses looking to expand. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. 1st Source Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, 1st Source Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Obtaining Funding From a Venture Capitalist SBA 7A Banks in South Bend, Indiana
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